Louisiana State Employees Retirement System Purchases New Position in Applied Industrial Technologies, Inc. $AIT

Louisiana State Employees Retirement System acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,800 shares of the industrial products company’s stock, valued at approximately $2,865,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of Applied Industrial Technologies by 22.7% in the 3rd quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares in the last quarter. Distillate Capital Partners LLC bought a new position in shares of Applied Industrial Technologies during the third quarter valued at $13,281,000. Citigroup Inc. lifted its holdings in shares of Applied Industrial Technologies by 44.4% during the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 9,321 shares in the last quarter. Barclays PLC boosted its position in shares of Applied Industrial Technologies by 91.4% during the third quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock valued at $26,169,000 after buying an additional 47,868 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in shares of Applied Industrial Technologies by 39.8% during the third quarter. Tudor Investment Corp ET AL now owns 124,185 shares of the industrial products company’s stock valued at $32,418,000 after buying an additional 35,374 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the transaction, the vice president owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AIT shares. Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Oppenheimer raised their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. DA Davidson began coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They set a “buy” rating and a $380.00 price objective for the company. Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $323.14.

Applied Industrial Technologies Stock Down 0.0%

AIT stock opened at $336.97 on Monday. The company has a market cap of $12.45 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.97 and a current ratio of 2.95. The business’s 50-day moving average is $311.79 and its two-hundred day moving average is $285.42. Applied Industrial Technologies, Inc. has a fifty-two week low of $230.44 and a fifty-two week high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $2.57 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s payout ratio is 19.26%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.